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June 2, 2022

Julius Baer offloads Fransad business to management

Julius Baer has agreed to offload Geneva-based wealth manager Fransad Gestion to its management team.

The deal, whose financial terms were not shared, was executed on 1 June 2022.

The move is part of Julius Baer’s ongoing strategy to scale down the complexity of its portfolio of companies following a review of its strategic participations.

Earlier this year, the Swiss private bank and asset manager had decided to divest its majority interest in Mexican wealth manager NSC Asesores and sell Wergen & Partner Wealth Management to its management.

Julius Baer said that the latest deal will enable Fransad to fortify its position as a major Swiss independent wealth manager under the ownership of the current management team.

Founded in 2010 in Geneva, Fransad is an independent wealth manager with ($1.56bn) CHF1.5bn of assets.

The firm has existing tie-ups with a number of Swiss and international custodian banks and provides customised wealth management solutions high-net-worth (HNW) individuals and entrepreneurs.

It currently has a team of twenty people, including ten relationship managers.

Julius Baer said that it will continue to work closely with Fransad and the two companies will maintain a partnership beyond traditional custodian services.

Other moves by Julius Baer

Last month, Julius Baer said that it has kicked off the wind down of its advisory subsidiary in Moscow in response to Russia’s continuing military aggression in Ukraine.

The bank also revealed that approximately 1.6% of its $460bn (CHF457bn) assets under management (AuM) were linked to Russian individuals who are neither residents of Switzerland nor the European Economic Area.

In March, Julius Baer revealed a plan to relocate its London headquarters from the start of 2023. The bank reduced its space by one third and decreased its carbon footprint by rolling out a hybrid working model for its employees.

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